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Collecting Life Ins Payment?
I read ^ post as asking --- what doc's does a life ins co accept as proof of death?
Answering gen'ly, not specifically to SM's case.
LI co's make payment to person(s) designated on policy application (or later on a LI co. form designating different beneficiary/ies) after beneficiary (or atty) completes LI co's claim form & submits it to co, w proof of death.
1. Death certificate, signed by physician/medical examiner. Often w'in a few days, weeks, or mo's.
2. Court order, signed by judge. Per CO law, that may occur after 5 yrs absence (& more req's* below).
Either one of these two doc's declaring a person dead would be sufficient proof of the fact of death for LI co to pay the death benefit (imo).
But w either doc, LI co could still face uncertainty about who to pay as beneficiary, because of the Slayer Statute** which bars a person inheriting property from a person they murder or otherwise benefitting from their death, like receiving LI policy proceeds.
ETA: If SM's life was insured, and if Person X who was named as benef. and then is convicted of her murder, Person X would be barred from receiving the death benefit, and the LI co. would pay to designated contingent beneficiary/ies, or if none, to the probate court for estate. Possible problem: timing, because any crim conviction usu'ly lags behind a benef. submitting claim for LI $$$.
Again, not saying this relates to BM.
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*Per CO statute court may make determination of death an individual, after absence "for a (1) continuous period of five years, during which he or she has (2) not been heard from, and whose (3) absence is not (4) not satisfactorily explained after (4) diligent search or inquiry..." bbm
Colorado Revised Statutes Title 15. Probate, Trusts, and Fiduciaries § 15-10-107 | FindLaw
** Slayer rule - Wikipedia.
CO Law: Colorado Revised Statutes Title 15. Probate, Trusts, and Fiduciaries § 15-11-803. Effect of homicide on intestate succession, wills, trusts, joint assets, life insurance, and beneficiary designations
Colorado Revised Statutes Title 15. Probate, Trusts, and Fiduciaries § 15-11-803 | FindLaw
@Tate123 bbm
I read ^ post as asking --- what doc's does a life ins co accept as proof of death?
Answering gen'ly, not specifically to SM's case.
LI co's make payment to person(s) designated on policy application (or later on a LI co. form designating different beneficiary/ies) after beneficiary (or atty) completes LI co's claim form & submits it to co, w proof of death.
1. Death certificate, signed by physician/medical examiner. Often w'in a few days, weeks, or mo's.
2. Court order, signed by judge. Per CO law, that may occur after 5 yrs absence (& more req's* below).
Either one of these two doc's declaring a person dead would be sufficient proof of the fact of death for LI co to pay the death benefit (imo).
But w either doc, LI co could still face uncertainty about who to pay as beneficiary, because of the Slayer Statute** which bars a person inheriting property from a person they murder or otherwise benefitting from their death, like receiving LI policy proceeds.
ETA: If SM's life was insured, and if Person X who was named as benef. and then is convicted of her murder, Person X would be barred from receiving the death benefit, and the LI co. would pay to designated contingent beneficiary/ies, or if none, to the probate court for estate. Possible problem: timing, because any crim conviction usu'ly lags behind a benef. submitting claim for LI $$$.
Again, not saying this relates to BM.
________________________________________
*Per CO statute court may make determination of death an individual, after absence "for a (1) continuous period of five years, during which he or she has (2) not been heard from, and whose (3) absence is not (4) not satisfactorily explained after (4) diligent search or inquiry..." bbm
Colorado Revised Statutes Title 15. Probate, Trusts, and Fiduciaries § 15-10-107 | FindLaw
** Slayer rule - Wikipedia.
CO Law: Colorado Revised Statutes Title 15. Probate, Trusts, and Fiduciaries § 15-11-803. Effect of homicide on intestate succession, wills, trusts, joint assets, life insurance, and beneficiary designations
Colorado Revised Statutes Title 15. Probate, Trusts, and Fiduciaries § 15-11-803 | FindLaw
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) and when that cat didn’t hunt he quickly switched to the “Oh, Suzanne,” as it was now not “too soon” to peddle the abduction scenario instead. I still cringe when I see/hear that video. Worst performance ever I did see! By the time TD showed up in Maysville, BM realized LE hadn’t bought the abduction scenario either, so he just threw everything he had in his arsenal of disorganized thought at TD including LE having messed up the “scene” where no crime occurred except perhaps staging the bike in an attempt to throw LE off. I suspect he wanted TD to get that message out there. Must have been a real shock to BM when LE set their sights on his home, his truck, his phone, his job site (digging it up no less) MG, JP, CC, Broomfield and everything else to do with him.
